Remitly Expands Offering with Visa Direct into Canada
April 28 2022 - 9:00AM
Business Wire
Expansion enables customers to seamlessly send
money from Canada to a loved one’s Visa card
Remitly Global, Inc. (NASDAQ: RELY) (“Remitly”), a leading
digital financial services provider for immigrants and their
families, today announced the expansion of its relationship with
Visa by making available Visa Direct, Visa’s real-time push
payments platform, to its customers in Canada.[1] Remitly customers
in Canada will be able to send funds to eligible recipients in
countries around the world with a broader array of payout options
that will now include Visa cards, in addition to the pre-existing
bank account, digital wallet, and cash payout options.
“At Remitly, we say that remittances are global, but customers
are local,” said Matt Oppenheimer, CEO, Remitly. “To provide
best-in-class financial services to our customers, we offer
localized experiences at scale - meaning offering locally relevant,
convenient, and trusted options to send money. We are proud to add
Visa Direct as an additional option for our customers in Canada, as
we continue to move toward our vision of becoming the most trusted
financial services provider for immigrants and their families.”
Visa Direct enables Remitly to provide its US and Canadian
customers with the ability to send money internationally directly
to bank accounts by simply providing their recipient's name and
16-digit Visa debit card number. Since March 2020, Remitly has
expanded its partnership with Visa, and customers can now send from
16 countries and receive digital money transfers to bank accounts
in more than 65 countries.
“Remittances are a lifeline for the 250 million migrant workers
around the world who rely on this service to quickly and securely
move money to their families,” said Jim Filice, VP and Head of New
Payments, Visa Canada. “With this collaboration with Remitly, we’re
unlocking new opportunities to help give Canadians more choice and
flexibility to digitally send funds around the world.”
Additionally, Remitly will join Visa today in a panel discussion
titled, “The rise of digital remittances – how innovation is
improving global money movement” at The 2022 Payments Canada
Summit. The session will discuss the trends in the digital
remittance market, including the outlook for both consumers and
businesses when it comes to evolving demand in cross-border money
movement.
About Remitly
Remitly is a leading digital financial services provider for
immigrants and their families in over 150 countries around the
world. Remitly helps immigrants send money home in a safe, reliable
and transparent manner. Its digitally-native, cross-border
remittance app eliminates the long wait times, complexities and
fees typical of traditional remittance processes. Building on its
strong foundation, Remitly is expanding its suite of products to
further its mission and transform financial services for immigrants
all around the world. Founded in 2011, Remitly is headquartered in
Seattle and has seven global offices, including London, Cork,
Singapore, Kraków, Manila and Managua. For more information, visit
Remitly.com.
[1] Actual fund availability depends on receiving financial
institution and region. Visa Direct is made available through
Remitly’s licensed Visa acquirer and payment processor.
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version on businesswire.com: https://www.businesswire.com/news/home/20220428005293/en/
Media: Danielle Vincent remitly@inkhouse.com
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